My wife and I are buying a newly constructed apartment in Southville and my lawyer is telling me that she has to the bank to reveal incentives from the builder. I am under pressure to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Southville so that I can attend their offices if required.
Nowadays conveyancing panel lawyers for banks undertake the vast majority of communications via Royal Mail, e-mail or over the phone. This means that they can undertake the legal work for your home move no matter where you live in England or Wales. That being said you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
It has been 4 months following my purchase conveyancing in Southville took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Southville differ for new build properties?
Most buyers of new build residence in Southville come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because builders in Southville usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Southville or who has acted in the same development.
My husband and I are novice buyers - had an offer accepted, yet the agent advised that the seller will only go ahead if we use the agent's recommended solicitors as they want a ‘quick sale’. Our preferred option is to instruct a family conveyancer used to conveyancing in Southville
It is highly unlikely the vendors are behind this. If they require ‘a quick sale', alienating a genuine purchaser is likely to cause more damage than good. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you will continue to appoint your own,trusted Southville conveyancing solicitors - not the ones that will provide their negotiator at the agency a commission or meet his conveyancing targets demanded by head office.